Wingstop (NASDAQ:WING) Shares Down 8% – Time to Sell?

Wingstop Inc. (NASDAQ:WING) shares traded down 8% during mid-day trading on Monday . The stock traded as low as $117.78 and last traded at $116.0240. 131,532 shares traded hands during trading, a decline of 89% from the average session volume of 1,170,119 shares. The stock had previously closed at $126.12.

Analysts Set New Price Targets

WING has been the subject of a number of recent research reports. The Goldman Sachs Group cut shares of Wingstop from a “buy” rating to a “neutral” rating and reduced their target price for the company from $290.00 to $190.00 in a research report on Thursday, April 30th. Piper Sandler set a $173.00 price target on shares of Wingstop in a research report on Wednesday, July 29th. Stephens reaffirmed an “overweight” rating and set a $200.00 price objective on shares of Wingstop in a research note on Thursday, July 30th. Benchmark cut their price objective on shares of Wingstop from $285.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, DA Davidson decreased their target price on shares of Wingstop from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Wingstop currently has an average rating of “Moderate Buy” and an average price target of $241.81.

Wingstop Trading Down 1.0%

The firm has a fifty day moving average price of $145.02 and a 200 day moving average price of $174.56. The firm has a market cap of $3.12 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.50 and a beta of 1.81.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.16. Wingstop had a net margin of 16.15% and a negative return on equity of 16.31%. The firm had revenue of $185.56 million for the quarter, compared to analysts’ expectations of $190.25 million. During the same quarter in the previous year, the company posted $1.00 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Wingstop Inc. will post 4.5 earnings per share for the current year.

Wingstop Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 5th. Shareholders of record on Saturday, August 15th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 14th. This is a positive change from Wingstop’s previous quarterly dividend of $0.30. Wingstop’s dividend payout ratio (DPR) is presently 31.35%.

Institutional Trading of Wingstop

Hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its position in Wingstop by 76.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after acquiring an additional 60 shares during the period. Rakuten Securities Inc. raised its position in Wingstop by 197.9% in the fourth quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 95 shares during the period. GW&K Investment Management LLC lifted its stake in shares of Wingstop by 75.7% in the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock valued at $45,000 after purchasing an additional 81 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Wingstop in the 2nd quarter valued at $34,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Wingstop by 121.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 119 shares during the period.

About Wingstop

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.